China housing sales: It’s how you count them

Is this a bubble or not? Housing sales in China are back up in November. Well, sort of. Caveats abound on China’s economic statistics, including those on the property market. But if there is one thing to remember, it’s this: monthly data look very different from yearly data. And yearly is almost always a better guide.
Chinese news agency Xinhua said in its headline “More Chinese cities see rising home price“. That’s true, to an extent. Compared with October, 53 out of the 70 cities in the sample saw house sales increase in November. In October, 35 cities had seen more sales than in the previous month………………………………………..Full Article: Source